Should I stay in university?!

Member since 2021 · 14 posts · 16 votes

Hey everyone!

I’m currently in a really tough position just looking for any advice I can get. I’m 19 years old and currently studying structural engineering in my 2nd year. I hate university. I had this idea that university would somehow help me to begin investing in SFM and small multis (qualifying for mortgages, etc). I still have another 2.5 years to go of my degree and it seems like such a waste of time. Everyone around me is saying to stick out the last couple years for the security. I’m also in a tough spot as my parents are paying for my education which puts a lot of pressure on me to stick out the remaining couple years. My true passion is real estate investing. I just don’t know where to go from here. If anyone would be willing to weigh in their thoughts I would love to hear what you have to say. Thanks a lot!

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JD MartinBusiness Member

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Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes

Yes. You should stick it out:

1. There's no reason you couldn't do both at the same time. Buy a duplex/triplex, live in one rent out the others. Or buy a SFH and rent all the rooms to your university buddies.

2. You think you have a passion for real estate investing but assuming you haven't done it (which is why you're here asking this question) you don't know that.

3. Structural engineering is a pretty lucrative field. Real estate investing requires money. One can easily be the means to an end for the other.

4. It doesn't sound like you're in a tough position at all. You're 19 and going to university on a ride from your parents. 95% of the rest of the world would call this a dream come true. This is the definition of First-world problems.

5. Your idea that getting a "real job" would help you qualify for mortgages and help you buy properties was spot-on. Banks generally don't like to give loans to people who don't have any obvious employment or employable skills.

What you really need is to recalibrate your mind. Investing in educating yourself is the greatest lifetime investment you'll ever make, better than any apartment complex. There are certainly other professions that can be learned without university but none of them are shortcuts.

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Account Closed
Rental Property Investor · Indianapolis, IN · Member since 2020 · 562 posts · 554 votes
4y
@Antonios Kranidis
I would suggest to stick with it. Maybe change your major if you are not finding any interest in it.
It will be difficult to start investing in real estate, unless you have a W2 job to back up your financing. It’s not impossible, there are ways around it, but it is a tougher journey as you are just starting out and haven’t built up any experience or credibility just yet. It will come, be patient. You are on the right track.
If you are dead set against continuing at the university, speak honestly with your parents. Ask them if they would be willing to give you the money that they would have for school, so that you can invest it in real estate. Have a plan before you do this though. Show them some examples of properties that you could buy, and what the return would be. You will still have to get over the hurdle of getting approved for financing, unless you can pay cash for your first property.
Best of luck to you.
5 Reply
LaChandra Walker
Member since 2021 · 1 post · 5 votes
4y
Your parents may be interested in investing with you. The same amount they are spending for your education they can invest with you. Draw up a proposal to present to them and show them a return on their investment. Just a thought.
5 Reply
JD MartinBusiness Member
Moderator
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
4y
Yes. You should stick it out:
1. There's no reason you couldn't do both at the same time. Buy a duplex/triplex, live in one rent out the others. Or buy a SFH and rent all the rooms to your university buddies.
2. You think you have a passion for real estate investing but assuming you haven't done it (which is why you're here asking this question) you don't know that.
3. Structural engineering is a pretty lucrative field. Real estate investing requires money. One can easily be the means to an end for the other.
4. It doesn't sound like you're in a tough position at all. You're 19 and going to university on a ride from your parents. 95% of the rest of the world would call this a dream come true. This is the definition of First-world problems.
5. Your idea that getting a "real job" would help you qualify for mortgages and help you buy properties was spot-on. Banks generally don't like to give loans to people who don't have any obvious employment or employable skills.
What you really need is to recalibrate your mind. Investing in educating yourself is the greatest lifetime investment you'll ever make, better than any apartment complex. There are certainly other professions that can be learned without university but none of them are shortcuts.
Podcast Guest on Show #243
Skyline Properties
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13 Reply
JD MartinBusiness Member
Moderator
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
4y
Originally posted by @LaChandra Walker:
Your parents may be interested in investing with you. The same amount they are spending for your education they can invest with you. Draw up a proposal to present to them and show them a return on their investment. Just a thought.

If I was his parents, I certainly wouldn't be interested in the least. He hasn't even demonstrated he can get through a few years of college on someone else's dime; what would make me believe he could deal with real adversity like a real estate downturn, a mass vacancy, a tenant lawsuit, or any of the many other adverse situations possible with investments?

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8 Reply
Jim K.
Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
4y
Originally posted by @Antonios Kranidis:
Hey everyone!

I’m currently in a really tough position just looking for any advice I can get. I’m 19 years old and currently studying structural engineering in my 2nd year. I hate university. I had this idea that university would somehow help me to begin investing in SFM and small multis (qualifying for mortgages, etc). I still have another 2.5 years to go of my degree and it seems like such a waste of time. Everyone around me is saying to stick out the last couple years for the security. I’m also in a tough spot as my parents are paying for my education which puts a lot of pressure on me to stick out the remaining couple years. My true passion is real estate investing. I just don’t know where to go from here. If anyone would be willing to weigh in their thoughts I would love to hear what you have to say. Thanks a lot!

Ante re, Antoni, stamata autes tis Amerikanikes blakies. Stick it out. The sky won't fall. Trust me, you'll realize someday there is no such thing as a true passion, just things you convince yourself are better than what you have. Talk to your parents. Connect and talk to me.

"I hate university." WTF? Are you six? What's next? "I just can't.." Do you understand the kind of guts you need for real estate? The kind of Godawful crap you have to tough it out through? The stuff that will keep you up at night? This ain't for people who have beet-juice in their veins instead of blood.

Apologies to the Bigger Pockets moderators, but this kid is Greek, and I'm damned well going to talk to him like he's Greek.
9 Reply
Scott Mac
Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
4y
Antonios,

I would hate to wake up everyday and have to be a structural Engineer to make a living.

Although if I need a good one--they are only a Business Check and a contract signature away!

I'd rather own a small liquor store or a fun nightclub, or even be a corn farmer that be a structural Engineer.

Of course none of these fit me as well as this--Real estate is my Passion.

But it is nice that we have structural Engineers to rely on when we need them.

and what @Jim K. said....even though it seems opposite in some ways to what I am saying--(That's the Duality of Man--like in Full Metal Jacket).

And since he's nice enough to offer to talk to you on the phone---a GOOD Real Estate Guy would Never pass up that offer---he is very sucessfull at what he does...

and neither of you know where this conversation will lead...

So as a much more experienced Real Estate Guy than you---I'd advise you to "Let you Fingers do the Dialing" and pop him a call ASAP...before he forgets about you and has to put more of his focus on housing people.

In other words (don't (not) call and waste a HUGE opportunity for some GREAT Advice)

just my 2 cents.

When I was 12 years old, I sat with a Greek/American Guy watching one of his very large apartment buildings burn to the ground, complete with people jumping to their deaths.

I learned a lot from him---don't let an opportunity to call go unused.

2 Reply
Antonios Kranidis
OP
Member since 2021 · 14 posts · 16 votes
4y
Originally posted by @JD Martin:
Yes. You should stick it out:
1. There's no reason you couldn't do both at the same time. Buy a duplex/triplex, live in one rent out the others. Or buy a SFH and rent all the rooms to your university buddies.
2. You think you have a passion for real estate investing but assuming you haven't done it (which is why you're here asking this question) you don't know that.
3. Structural engineering is a pretty lucrative field. Real estate investing requires money. One can easily be the means to an end for the other.
4. It doesn't sound like you're in a tough position at all. You're 19 and going to university on a ride from your parents. 95% of the rest of the world would call this a dream come true. This is the definition of First-world problems.
5. Your idea that getting a "real job" would help you qualify for mortgages and help you buy properties was spot-on. Banks generally don't like to give loans to people who don't have any obvious employment or employable skills.
What you really need is to recalibrate your mind. Investing in educating yourself is the greatest lifetime investment you'll ever make, better than any apartment complex. There are certainly other professions that can be learned without university but none of them are shortcuts.

Thanks for the in depth response!
I don't want to come off the wrong way with this post. I realize that I'm extremely fortunate to be in a financial position where my parents are willing to pay for my education. Where I'm torn is with the idea of pursuing a career path that I am not as interested as I once thought. As a result of my parents paying for my education, I feel more inclined to continue along the path to becoming a structural engineer than if it was my own money. This is my current situation that I find difficult. I understand others have had worse experiences, however, I'm strictly dealing with my situations as they come and not trying to compare to other people.

Touching back to your post, I currently live in a city where price to rent ratios are out of whack and paying $500k for a place to rent out for $2.5k doesn't align with my goals. Yes, there are surrounding markets that cash flow, however, my university program consumes so much of my time as it is already that adding on more tasks to my already crammed days seems difficult. Maybe after this follow up post my difficulties seem to make a bit more sense? Any additional insight/advice would be great.

PS. I'm not offended at all by direct/harsh opinions you may have! Send them my way, I like to hear what others have to say! Good and bad.

3 Reply
Jim K.
Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
4y
@Antonios Kranidis
Thanks for connecting. Looking forward to speaking soon.
3 Reply
Erika Butler
Dallas, TX · Member since 2021 · 13 posts · 11 votes
4y
I would definitely stick with it! Especially since you have the luxury of your parents paying for this. I did not have that luxury, but I'm still grateful I stuck with it. I have been in the real estate industry for 6 years now, but I am still so thankful for my degree. You are still so young and have plenty of time to dive into real estate once you finish school.
3 Reply
Allen L.
Rental Property Investor · Chicago and mainly invests in KS remotely · Member since 2018 · 360 posts · 314 votes
4y
Seems obvious. Stick with it. It is a +ve multiplier on your future real estate endeavor. If you were studying fine arts I might advise you that you're making an improvement.
5 Reply
Jim K.
Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
4y
I talked to Tony. This is not at all an obvious situation, people.
4 Reply
Rolly Weaver
Helen, GA · Member since 2015 · 96 posts · 68 votes
4y
I was in your same spot some years ago. I took a ridiculous amount of credits my last two years and just pounded out my degree.
After graduating, I begin imnedialty to invest in real estate and have never had a w-2 job, however, having a degree helps investing.
For example, connecting with sellers, and/or private money lenders. Its easier to sell yourself if you can give them a story of yourself and life.
2 Reply
Joel W.
Portland, OR · Member since 2019 · 45 posts · 32 votes
4y
What if you switched majors to something like finance? That may scratch your investing itch and give you a good degree and something to help you get a lucrative career to start building your investing fund.
2 Reply
Tony Kim
Rental Property Investor · Los Angeles · Member since 2018 · 844 posts · 1k+ votes
4y
Originally posted by @Antonios Kranidis:
Hey everyone!

I’m currently in a really tough position just looking for any advice I can get. I’m 19 years old and currently studying structural engineering in my 2nd year. I hate university. I had this idea that university would somehow help me to begin investing in SFM and small multis (qualifying for mortgages, etc). I still have another 2.5 years to go of my degree and it seems like such a waste of time. Everyone around me is saying to stick out the last couple years for the security. I’m also in a tough spot as my parents are paying for my education which puts a lot of pressure on me to stick out the remaining couple years. My true passion is real estate investing. I just don’t know where to go from here. If anyone would be willing to weigh in their thoughts I would love to hear what you have to say. Thanks a lot!

What exactly do you hate about going to college? Is it the high-pressure? Is it the hard work and late nights? Let me fill you in on a little secret... for the majority of folks, college was one of the best times of their lives. It certainly was for me...despite the high pressure to succeed and graduate with a high GPA. The memories and friends I made in college are something I will treasure always....and I'm very thankful to my school for allowing me to live comfortably and also invest in RE. Everyone is telling you to stick it out for good reason.
2 Reply
Antonios Kranidis
OP
Member since 2021 · 14 posts · 16 votes
4y
Originally posted by @Tony Kim:
Originally posted by @Antonios Kranidis:
Hey everyone!

I’m currently in a really tough position just looking for any advice I can get. I’m 19 years old and currently studying structural engineering in my 2nd year. I hate university. I had this idea that university would somehow help me to begin investing in SFM and small multis (qualifying for mortgages, etc). I still have another 2.5 years to go of my degree and it seems like such a waste of time. Everyone around me is saying to stick out the last couple years for the security. I’m also in a tough spot as my parents are paying for my education which puts a lot of pressure on me to stick out the remaining couple years. My true passion is real estate investing. I just don’t know where to go from here. If anyone would be willing to weigh in their thoughts I would love to hear what you have to say. Thanks a lot!

What exactly do you hate about going to college? Is it the high-pressure? Is it the hard work and late nights? Let me fill you in on a little secret... for the majority of folks, college was one of the best times of their lives. It certainly was for me...despite the high pressure to succeed and graduate with a high GPA. The memories and friends I made in college are something I will treasure always....and I'm very thankful to my school for allowing me to live comfortably and also invest in RE. Everyone is telling you to stick it out for good reason.

Hey Kim, thanks for your reply.
What I hate about it is having to do what is already an extremely demanding program while being something I see no future with. In addition, I feel the additional pressure of having to do well and finish my degree because I am not the one paying for it. I'm not a selfish person. I understand the value of money and greatly appreciate the financial situation I'm in. Therefore, I feel even more pressure to pursue what I don't want to do as I'm already in my second year and my parents have paid for 2 years of tuition.

Engineering has consumed the entirety of my life throughout the past 2 years. When I'm not in class, I'm studying. When I'm trying to do something other than school, I think of how I should be studying. I do not see myself in 5 years as a structural engineer and this is where my struggle stems from. I like to have fun with friends, but I am one that feels I need to be productive all the time. A fun friday/saturday night here and there is great but eventually it all comes back in my mind that I should be getting ahead on my studies. Maybe what I need is a mindset shift? The part that's extremely difficult is that there's an immense amount of pressure to finish my degree stemming from those around me but also a lot that I feel I create in my own head, while this is something I have little to no interest in pursuing, the only reason I am is to have the W2 job to qualify for loans.

3 Reply
Tony Kim
Rental Property Investor · Los Angeles · Member since 2018 · 844 posts · 1k+ votes
4y
Originally posted by @Antonios Kranidis:
Originally posted by @Tony Kim:
Originally posted by @Antonios Kranidis:
Hey everyone!

I’m currently in a really tough position just looking for any advice I can get. I’m 19 years old and currently studying structural engineering in my 2nd year. I hate university. I had this idea that university would somehow help me to begin investing in SFM and small multis (qualifying for mortgages, etc). I still have another 2.5 years to go of my degree and it seems like such a waste of time. Everyone around me is saying to stick out the last couple years for the security. I’m also in a tough spot as my parents are paying for my education which puts a lot of pressure on me to stick out the remaining couple years. My true passion is real estate investing. I just don’t know where to go from here. If anyone would be willing to weigh in their thoughts I would love to hear what you have to say. Thanks a lot!

What exactly do you hate about going to college? Is it the high-pressure? Is it the hard work and late nights? Let me fill you in on a little secret... for the majority of folks, college was one of the best times of their lives. It certainly was for me...despite the high pressure to succeed and graduate with a high GPA. The memories and friends I made in college are something I will treasure always....and I'm very thankful to my school for allowing me to live comfortably and also invest in RE. Everyone is telling you to stick it out for good reason.

Hey Kim, thanks for your reply.
What I hate about it is having to do what is already an extremely demanding program while being something I see no future with. In addition, I feel the additional pressure of having to do well and finish my degree because I am not the one paying for it. I'm not a selfish person. I understand the value of money and greatly appreciate the financial situation I'm in. Therefore, I feel even more pressure to pursue what I don't want to do as I'm already in my second year and my parents have paid for 2 years of tuition.

Engineering has consumed the entirety of my life throughout the past 2 years. When I'm not in class, I'm studying. When I'm trying to do something other than school, I think of how I should be studying. I do not see myself in 5 years as a structural engineer and this is where my struggle stems from. I like to have fun with friends, but I am one that feels I need to be productive all the time. A fun friday/saturday night here and there is great but eventually it all comes back in my mind that I should be getting ahead on my studies. Maybe what I need is a mindset shift? The part that's extremely difficult is that there's an immense amount of pressure to finish my degree stemming from those around me but also a lot that I feel I create in my own head, while this is something I have little to no interest in pursuing, the only reason I am is to have the W2 job to qualify for loans.

That makes sense. My son graduated with a degree in engineering also and I saw how hard he studied. I know it's grueling...and in hindsight, he later admitted to us that he didn't really have an interest in engineering. He was great at physics and chemistry, so that's the route he took. He now works in a different, but not totally unrelated industry and loves it (medical devices R&D). He's making great money for his age and he also invests everything he has. He has an extensive portfolio of stocks as well as his own condo which has shot up in value the past few years. He is currently saving money to buy a home and rent out his condo. I didn't give him a penny for his home and investments. He built all of this up with money earned from his job.
I'm convinced that even though engineering falls among the many mainstream prestigious careers, it really isn't for everyone. Most any smart person can be a lawyer or doctor if they apply themselves. But with engineering, I feel as if intelligence alone won't do it. One has to have a certain type of passion and fascination with things that most ordinary folks don't GAS about. So the reason I bring up the anecdote of my son's career path is to tell you that you don't have to be an engineer after you graduate. Just get that degree, finish high up in your class and you will land a good job that doesn't have to be in structural engineering. To me, that's the easiest way to build your RE portfolio.
4 Reply
Antonios Kranidis
OP
Member since 2021 · 14 posts · 16 votes
4y
Originally posted by @Tony Kim:
Originally posted by @Antonios Kranidis:
Originally posted by @Tony Kim:
Originally posted by @Antonios Kranidis:
Hey everyone!

I’m currently in a really tough position just looking for any advice I can get. I’m 19 years old and currently studying structural engineering in my 2nd year. I hate university. I had this idea that university would somehow help me to begin investing in SFM and small multis (qualifying for mortgages, etc). I still have another 2.5 years to go of my degree and it seems like such a waste of time. Everyone around me is saying to stick out the last couple years for the security. I’m also in a tough spot as my parents are paying for my education which puts a lot of pressure on me to stick out the remaining couple years. My true passion is real estate investing. I just don’t know where to go from here. If anyone would be willing to weigh in their thoughts I would love to hear what you have to say. Thanks a lot!

What exactly do you hate about going to college? Is it the high-pressure? Is it the hard work and late nights? Let me fill you in on a little secret... for the majority of folks, college was one of the best times of their lives. It certainly was for me...despite the high pressure to succeed and graduate with a high GPA. The memories and friends I made in college are something I will treasure always....and I'm very thankful to my school for allowing me to live comfortably and also invest in RE. Everyone is telling you to stick it out for good reason.

Hey Kim, thanks for your reply.
What I hate about it is having to do what is already an extremely demanding program while being something I see no future with. In addition, I feel the additional pressure of having to do well and finish my degree because I am not the one paying for it. I'm not a selfish person. I understand the value of money and greatly appreciate the financial situation I'm in. Therefore, I feel even more pressure to pursue what I don't want to do as I'm already in my second year and my parents have paid for 2 years of tuition.

Engineering has consumed the entirety of my life throughout the past 2 years. When I'm not in class, I'm studying. When I'm trying to do something other than school, I think of how I should be studying. I do not see myself in 5 years as a structural engineer and this is where my struggle stems from. I like to have fun with friends, but I am one that feels I need to be productive all the time. A fun friday/saturday night here and there is great but eventually it all comes back in my mind that I should be getting ahead on my studies. Maybe what I need is a mindset shift? The part that's extremely difficult is that there's an immense amount of pressure to finish my degree stemming from those around me but also a lot that I feel I create in my own head, while this is something I have little to no interest in pursuing, the only reason I am is to have the W2 job to qualify for loans.

That makes sense. My son graduated with a degree in engineering also and I saw how hard he studied. I know it's grueling...and in hindsight, he later admitted to us that he didn't really have an interest in engineering. He was great at physics and chemistry, so that's the route he took. He now works in a different, but not totally unrelated industry and loves it (medical devices R&D). He's making great money for his age and he also invests everything he has. He has an extensive portfolio of stocks as well as his own condo which has shot up in value the past few years. He is currently saving money to buy a home and rent out his condo. I didn't give him a penny for his home and investments. He built all of this up with money earned from his job.
I'm convinced that even though engineering falls among the many mainstream prestigious careers, it really isn't for everyone. Most any smart person can be a lawyer or doctor if they apply themselves. But with engineering, I feel as if intelligence alone won't do it. One has to have a certain type of passion and fascination with things that most ordinary folks don't GAS about. So the reason I bring up the anecdote of my son's career path is to tell you that you don't have to be an engineer after you graduate. Just get that degree, finish high up in your class and you will land a good job that doesn't have to be in structural engineering. To me, that's the easiest way to build your RE portfolio.

Wow that sounds all too similar to my situation, I had high 90s in high school math, physics, chemistry and with a little push from people around me engineering is where I am now just like your son. I really appreciate the insight it means a lot to me.
2 Reply
Allen L.
Rental Property Investor · Chicago and mainly invests in KS remotely · Member since 2018 · 360 posts · 314 votes
4y
@Antonios Kranidis I am trying to keep my words concise because I have so much to say on this topic. You really need to look at it from an opportunity cost perspective. You're not studying some useless degree, *structural engineering* is a real skill set with real value in real estate. On one hand, you have real value and potential here in school. If you quit, do you think that you have skills and natural ability to excel as a real estate operator? I say this with skepticism because you didn't mention anything about having a large trust fund to start buying large multifamily to keep food on the table. If you don't think you have the natural proven ability, you're simply giving up way more than the average bum kid that drops out of school and pursues real estate or ecommerce or whatever. For every successful rags to riches kid, there are probably hundreds that didn't make anything of themselves. Honestly, if you were studying fine arts I'd think you are making an improvement to your life, because the opportunity cost of quitting school is so low.

As someone else as eluded, you do not have to be a structural engineer. I work in algorithmic trading, and everyone from my team comes from a STEM background. We just had a super day last week where literally everyone that I interviewed had a double major in CS + Math. What I am trying to say is, your degree shows that you have a valuable skill set and it's honestly also an IQ test. If you find out what's lucrative with a degree in structural engineering (I have no idea, but it may really not be engineering but maybe as an junior executive at a international PM company after you finish an MBA, or start your own consulting firm after gaining some experience). You can earn 200-400K by 30-40 quite easily with your degree if you are smart and want to optimize compensation, then you can squirrel out 100-200K every year to buy real estate, BRRRR with cash, and by age 40-50 you can comfortably expect to have 100+ units with 10 mil+ portfolio, if you really have the drive and perseverance, I think 500+ units is doable by age 50. I don't mean the syndication BS where you own 5% of the fund, I mean literally own it as a solo operator.

Gurus make it sound way too easy to invest in real estate with little or no money down, the vast majority of people that invest in real estate HAVE MONEY FIRST.
6 Reply
Paul Smythe
Investor · Greenville, SC · Member since 2012 · 269 posts · 187 votes
4y
@Antonios Kranidis very hard to give any real advice here, but I'll try. Why not consider a business major? Gives you professional skills that might be a little more in line with RE investing. It'll probably also be a good bit easier than engineering.
I majored in real estate at my business school and loved every second of it. See if yours offers that.
3 Reply
Joe S.Pro Member
Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
4y
Originally posted by @Antonios Kranidis:
Hey everyone!

I’m currently in a really tough position just looking for any advice I can get. I’m 19 years old and currently studying structural engineering in my 2nd year. I hate university. I had this idea that university would somehow help me to begin investing in SFM and small multis (qualifying for mortgages, etc). I still have another 2.5 years to go of my degree and it seems like such a waste of time. Everyone around me is saying to stick out the last couple years for the security. I’m also in a tough spot as my parents are paying for my education which puts a lot of pressure on me to stick out the remaining couple years. My true passion is real estate investing. I just don’t know where to go from here. If anyone would be willing to weigh in their thoughts I would love to hear what you have to say. Thanks a lot!

2 1/2 years Will be a drop in the bucket to the rest your life. What you do with that drop in the bucket can affect the rest of your life.
5 Reply
Jabbar Adesada
Rental Property Investor · Beaufort, SC · Member since 2020 · 119 posts · 98 votes
4y
@Antonios Kranidis
Hey Antonios I bought my first house in February at 19, by myself as a full time single lower enlisted Marine, even had to put 5% down which was more than 1 year of my military salary after taxes lol. I was also in school at the time and got sent to the middle of the desert 2,000 miles away from my property with a final due and 5 tenants to find. My point with saying this is, if you REALLY want to you can do both. Just commit to it… If you want it badly enough you'll do a deal while in school. My Master Sergeant once told me you can judge a man based on the value he holds on his commitments. You made a commitment to go to school you need to finish. I hate my job, I'm writing this message in the desert AGAIN, sleeping on the floor, sweating all over, and getting sand out of my socks…if I had an opportunity to go home and never do this again right now I wouldn't because I made a commitment and I value my commitments. I also made a commitment to become financial free before I exit the military in a 3 years and I am also honoring that commitment, I close on another property tomorrow. If you quit now you will carry the precedence forward into real estate because it will be hard. Prove to yourself that you can do something hard and finish it, and carry that mentality forward. You talk about your school feeling like a waste of time, but the ROI on your free education is infinite… if anything change your degree to something lucrative, that you enjoy more. But don't be a quitter! And honor your commitment!
6 Reply
Antonios Kranidis
OP
Member since 2021 · 14 posts · 16 votes
4y
Thank you to everyone that commented on my post I’m extremely fortunate to have heard all the great advice from everyone.
4 Reply
Account Closed
Investor · Singapore · Member since 2013 · 1k+ posts · 3k+ votes
4y
I have a PhD in Engineering. I worked two years as an engineer and then switched to Marketing in high tech companies. I travelled and lived all over the world and accumulated a 7 figure nest egg well before I was 50. I invested in REI along the way but it was the education and career that made my life. Engineering is one of the best educations to open the door to all kinds of opportunities. If you have the intelligence, discipline and perseverance to complete a demanding engineering degree then you are likely to succeed at most endeavors. Just because you get a degree in engineering doesn't mean you will do that for the rest of your life. But the skills you learn (problem solving, analytical etc) are useful in anything you do. So stay in school.
5 Reply
Dean D.
Member since 2021 · 10 posts · 5 votes
4y
Dear Antonios,
With all things in life there are pros and cons. My grandmother always taught me that when I face a tough decision, I should write down the pros and cons to each side of the decision. With doing this process, you can always see in black and white what the best decision should. Sometimes, however, it is not that clear, and you may want to use a decision weighted matrix.
Nonetheless, I can only offer some advice from my experiences. I left university during my second year. I first started studying Civil Engineering, which I found utterly boring, so I changed to major in Mathematics and Physics. While I really enjoyed most of the content, I felt at that time that university wasn't for me, so I left. I thought at the time that I was wasting my time and I could use my time more wisely than studying a standardised degree. That being said, herein lies the double edged sword - do you want to get book smart, or street smart? What I mean is, if you stay at university you will most likely get book smart (and this is not a bad thing). It will probably set you up in a good job, from which you can pivot moving forward. I went the other way and decided to try many different things and am still doing so. I have ended up working as a software developer for a large hedge fund without any formal qualifications because computers is where my ultimate interest took me - I would not have known if I stayed in univeristy! Again, with that being said, I find myself in a crazy work life (working ~60 hours per week) and studying a full time degree now, which makes it extremely difficult. I feel like I have done things backwards, but I can never know that because had I stayed in university I probably wouldn't be in the position I am in. This has now lead me to this platform where I am currently looking at purchasing my first rental property, a bit late at 30, but rather late than never!
With all this, I can only say do what you are passionate about and life will follow through. One of my philosophies is life is always working for you, you just have to make the waves through your passion and effort.
All the best with your future endeavours!
2 Reply
Sam Wilson
Investor · Memphis, TN · Member since 2016 · 279 posts · 257 votes
4y
@Antonios Kranidis - I totally understand how you feel, but I think you should stick it out.
I decided to get my degree at 35 after owning several successful businesses just because it had been on my "should do this" list. I can't say that I got much out of it, but it is credential and that is important to many people. I chose finance because I love numbers and wanted to do more of the business/finance side of multifamily. With a degree like engineering, you will have an added expertise in real estate that will serve you well.
My suggestions to you are to make the most of this time you have left in school. Continue to network with other investors and learn all you can about real estate.
Also find out if there are ways you can accelerate your degree. Most advisors aren't creative enough or motivated enough to help you with this, but it can be done. I was able to graduate in 5 consecutive semesters with a 3.8 GPA because of a combination of taking as many credits as possible, CLEPing out of most of my gen ed requirements and using the "experiential learning" credits that my university offered to be able to skip all electives.
Let me know if you want to know any more details of how I did that. Saved us thousands in tuition and my sanity by getting done quickly!
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